Response to this Question

    There is no restriction on gifts by NRIs to resident Indians in foreign exchange or Indian Rupees or in the form of assets. All sorts of gifts from relatives (as defines under Income Tax Act) are tax free. All that is required is an offer by the donor and acceptance thereof by the in black and white. To safeguard against any hassles, the donee should request the donor for a gift and then the donor should remit the amount to the donee. Alternatively, the donor can offer the gift. In either case, it is necessary for the done to accept the gift in writing (maybe through a thank you note).

Date : 15-Dec-2019 

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